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The Indian Tax Structure: Tamilnadu National Law University, Tiruchirappali
The Indian Tax Structure: Tamilnadu National Law University, Tiruchirappali
The Indian Tax Structure: Tamilnadu National Law University, Tiruchirappali
Academic year-2020_21.
TNNLU. TNNLU.
The Indian Tax Structure
INTRODUCTION:
Tax structure in India is a three tier federal structure. The central government, state
governments, and local municipal bodies make up this structure. Article 256 of the constitution
states that “No tax shall be levied or collected except by the authority of law”. Hence, each and
every tax that is collected needs to backed by an accompanying law .
Interestingly, the tax system in India traces its origin to the prehistoric texts such as
Arthashastra and Manusmriti. As proposed by these manuscripts, the taxes paid by farmers and
artisans in that era would be in the form of agricultural produce, silver or gold. Based on these
texts, the foundation of the modern tax system in India was conceptualised by the Sir James
Wilson during the British rule in India in the year, 1860. However, post-independence the
newly-established Indian Government then soldered the system to propel the economic
development of the country. After this period, the Indian tax structure has been subject to a
host of changes.
OBJECTIVES:
▶To discuss reforms in Indian economy by new Tax structure.
REVIEW OF LITERATURE:
This is a descriptive cum conceptual research paper, which studies the concept and framework of
GST based on past literature, books, journal, magazines, research papers and articles etc. The study is
based on secondary sources of data or information. Different books, newspapers and relevant websites,
Govt. Publications and research papers, have been consulted in order to make the study effective one.
METHODOLOGY:
This research is predominantly doctrinal research based and covers information from
e-journals, articles, books, editorials and wide utilisation of the internet due to pandemic
situation.
HYPOTHESIS:
No particular hypothesis has been taken for testing purpose as because the study is
explanatory in nature for the literature review aspects substantiating the Goods and Service Tax Laws of
India. It covers a wide range of academic literatures on Goods and Services Tax. Additionally, as per the
need of the study, further considerations have been made.
REFERENCE:
JagadishR.,Financial Ratios and Financial Statement Analysis • Martin Fridson,Financial
Statement Analysis • Sultan Chand, Double Entry Book Keeping Web Sites •
http://www.projectsjugaad.com/BBA-Projects.asp • http://mbahotspot.com/mba-files/ •
http://www.investopedia.com/terms/f/financial-analysis.asp •
https://www.cleverism.com/financial-statement-analysis-introduction/ •
http://www.slideshare.net/hemanthcrpatna/a-project-report-on-financial-statement- analysis
• http://www.slideshare.net/hemanthcrpatna/a-project-report-on-analysis-of-financial-
statement-of-icici-bank • http://projects.students3k.com/mba-finance-projects-a-study-on-
analysis-of-financial- statements.html 63 |